Zurich insists it does not plan to cut ties with networks
Zurich has pulled the plug on its relationship with the Cobra Network, it has emerged.
Zurich left the Cobra panel last year, during which time – as revealed by Insurance Times – the insurer pulled deals with the Westinsure network, including enhanced commissions for its broker members.
It came at a time when major insurers began to question the exclusive deals that they offer networks and the value of their support.
A Zurich spokesman said the insurer had no plans to end its relationships with networks and added that it was currently in negotiations to join the panel of two additional networks.
Cobra Network, which has around 160 members, has now replaced Zurich by adding LV=’s commercial products to its insurer panel.